Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Opposition leaders have targeted the central government and the Election Commission over the Spec
This time there were no Hindi feature films in the Oscar race, but India has been represented the
Vaccination of children between 12 and 14 years against the coronavirus disease (Covid-19) will s
Spanish President Pedro Sanchez arrived in Vadodara, Gujarat on Monday morning on a three-day vis
INDIA Alliance: Everything does not seem to be going well yet in I.N.D.I.A., the alliance of oppo
The atmosphere of the Bigg Boss Season 19 house changes every week after Weekend Ka Vaar. This we
IPL 2023. The excitement for the 16th season of the Indian Premier League is increasing with each
The national song of India, 'Vande Mataram', has completed 150 years. It will be discussed in bot
China stunned by our strength in Kailash range: Troops increasing in Ladakh after ruckus in Tawang
The skirmish with the Chinese Army in Arunachal's Tawang sector is being seen as an attempt to di
iPhone SE On Amazon: If you want to get an iPhone, then do not miss this opportunity available on
